AirDNA is a great tool to look at different areas and estimated rents - and I would also log onto VRBO and Airbnb and see what homes are renting for in the areas you narrow down, and how many there are available. 

I see a lot of investors "hoping" the numbers work, but you need to evaluate enough until your gut says go.

I am currently practicing evaluating properties here in South Florida so I can get a feel for the market and what strategy would work best for my situation, and am struggling to find any off the cuff percentages (i.e. 1-2% of the purchase price) I can use to estimate rehab costs. 

Step 1 is to evaluate your tools and resources and which strategies those best give you a leg up in.

I have been using Rentometer.com for evaluating rent values when looking at properties in different areas.

When evaluating a multifamily property (5+ units), one would determine the actual property income (the total income the property generated in the prior 12 months) and use this calculation as part of the calculation for the NOI and the purchase price. 

I've decided to partner with a STR management company vs. doing it on my own in New Orleans for a variety of reasons starting with the regulations setup by the city. Does anyone have a good comparison sheet or list of...

It is so exciting to have over 15 million dollars to evaluate.

The bill would prohibit certain entities, including a housing provider, from using an alleged default in rent that accrued during the effective time period as a negative factor for the purpose of evaluating creditworthiness or for other specified purposes."

I see it as analytics, the creation and capture of meaningful metrics PLUS the evaluation of that data used to make targeted business decisions.